Murchison Minerals Intersects High-Grade Copper-Zinc Mineralization IN Backpack Drillholes at Bmk Deposit - Diamond Drill Program to Commence Early October
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MURCHISON MINERALS LTD. NEWS RELEASE
News Release
MURCHISON MINERALS INTERSECTS HIGH-GRADE COPPER-ZINC
MINERALIZATION IN BACKPACK DRILLHOLES AT BMK DEPOSIT - DIAMOND
DRILL PROGRAM TO COMMENCE EARLY OCTOBER
HIGHLIGHTS
• In August, the Company commenced its 2025 Exploration Program (the “Program”) at its 100%-
owned BMK VMS Project in Saskatchewan, located approximately 220 km northwest of Foran
Mining Corporations’ Mcllvenna Bay VMS mine development (Figure 1);
• Phase I (August – October 2025): Surficial mapping and backpack drillhole program at the BMK
Deposit has resulted in:
o Surficial mapping : Identified high -grade1 copper-zinc mineralization in outcrops,
expanding the surficial footprint of the Deposit over a 745 m strike length (Figure 4);
o Backpack drilling : To date , the Company has successfully completed six backpack
drillholes at the BMK Deposit, all of which intersected near surface high-grade1 copper-
zinc mineralization (Figures 2 & 3) in outcrops and subcrops, assays are pending.
• Phase I is on-going, focused on identification of VMS mineralization at high-priority regional
targets within the 37 km long BMK VMS Trend (Figure 1), with the objective of de-risking targets
for future drill testing;
• Phase II (October – November): Diamond drilling – utilizing results from Phase I to drill test
targets for near surface expansion of the BMK Deposit;
• Phase III (November – December 2025): 3D Geological Modeling and data compilation –
supporting target development and de-risking, in advance of a substantial 2026 exploration
campaign;
• The BMK Project comprises 859 km2 mineral claims, situated along the underexplored MacLean
Lake Prospective VMS Belt, hosting the high-grade BMK VMS Deposit (Table 1) and numerous
additional VMS showings along the 37 km long BMK Trend.
Table 1: BMK VMS Deposit – 2018 Mineral Resource Summary
Indicated Resources
Tonnes Cu (%) Zn (%) Ag (g/t) Pb (%) Au (g/t) Cu Eq. (%) Zn Eq. (%)
Lower Zone 1,200,000 0.75 8.13 48 0.67 0.28 4.19 14.6
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Upper Zone 900,000 0.6 5.7 28.52 0.24 0.17 2.87 9.98
Total 2,100,000 0.69 7.08 39.6 0.49 0.23 3.62 12.62
Inferred Resources
Tonnes Cu (%) Zn (%) Ag (g/t) Pb (%) Au (g/t) Cu Eq. (%) Zn Eq. (%)
Lower Zone 2,700,000 0.55 4.88 29.02 0.42 0.14 2.59 9.02
Upper Zone 4,900,000 0.57 4.22 12.46 0.06 0.08 2.05 7.16
Total 7,600,000 0.57 4.46 18.42 0.19 0.1 2.25 7.85
The above mineral resource estimate for the Brabant -McKenzie VMS Deposit was prepared by an independent qualified person (“QP”) Finley
Bakker, P. Geo., and has an effective date of September 4, 2018. The NI 43-101 Technical Report named Technical Report on the Resource Estimate
Update for the Brabant-McKenzie Property, Brabant Lake, Saskatchewan is available on the Company’s website and on SEDAR. The Mineral
Resource of the Brabant-McKenzie VMS Deposit was estimated based on metal prices of USD $1.20/lb Zn, $2.50/lb Cu, $1.00/lb Pb, $16.00/Oz.
Ag, and $1,200/Oz. Au, and a USD exchange rate of $1.25. A Net Smelter Return (NSR) cut-off of $90/tonne and a 3.5% zinc equivalent based on
above metal prices and an average recovery of 75% for all metals. C opper equivalent is in substitution for zinc equivalent and not in addition to.
Equivalent Values in the table are calculated utilizing the following USD metal prices from Sept 19, 2025; $4.59/lb Cu, $1.31/lb Zn, $0.91/lb Pb,
$42.24/Oz. Ag, and $3657.85/Oz. Au.
Murchison Minerals’ CEO Troy Boisjoli comments:
“Murchison Minerals’ 2025 BMK Exploration Program is a pivotal point in the Company’s revitalization
strategy. The strategy kicked off in the spring with Murchison’s corporate restructuring and most recently
with the Company welcoming HCC Holding Ltd. (“HCC” or “HCC Group”) – a subsidiary of Misty Ventures
Inc., the economic development entity of Mistawasis Nêhiyawak First Nation – as a new, cornerstone
investor in Murchison. The BMK VMS Project , hosting the high-grade BMK Deposit, is one of – if not the
most – advanced exploration stage base metals projects in Saskatchewan. With the recent announcement
by the Federal Government of Canada, fast tracking Foran’s nearby Mcllvenna Bay VMS mine
development, Murchison’s strategy is timely. Saskatchewan is Canada’s top ranked exploration and mining
jurisdiction – while western governments are prioritizing the discovery and development of key copper -
zinc assets, Saskatchewan is the right place to be. The Company recognizes the value of further investment
to derisk and advance the BMK Project during this commodity cycle. Today’s announcement is just step
one; we are excited at the opportunity that lies ahead - unlocking Canada’s next VMS jurisdiction. ”
Murchison Minerals’ Vice-President of Exploration John Shmyr comments:
“This early work combined mapping with targeted beep mat surveys and backpack coring. In areas that
had been prospected unsuccessfully in the past, the post -fire conditions allowed the beep mat to detect
subcropping sulphides with far greater sensitivity. Our backpack drill cores confirm copper - and
zinc-bearing mineralization at multiple points along the deposit. The shallow, high -grade exposures
validate our thesis that the upper portion of BMK requires additional drilling and is primed for expansion,
while the system remains open at depth and along strike.”
Burlington, Ontario, October 2 nd, 2025: Murchison Minerals Ltd. (TSX.V: MUR) (OTC: MURMF)
(“Murchison” or the “Company”) is pleased to announce the commencement and early results from an
ongoing backpack drilling and surficial mapping program at its 100%-owned BMK Project, Saskatchewan.
The Program has identified numerous occurrences of high -grade copper-zinc mineralization (based on
visual estimates of chalcopyrite and sphalerite mineralization, assays pending, confirmed by XRF and are
consistent with the mineralization observed in the BMK deposit ) at surface and sub -cropping along the
strike length of the BMK Deposit. The newly identified outcrops were discovered as a result of a recent
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2025 forest fire that burned across the property, removing extensive moss and forest cover. The Program
is ongoing and is planned to expand to high-priority regional targets on the 37 km long BMK Trend.
The Company is also pleased to announce that a diamond drilling program is scheduled to commence in
early October at the BMK Deposit. This program will target expansion of shallow mineralization, proximal
to the BMK Deposit.
Figure 1: Location map of BMK Project.
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Figure 2: Newly discovered chalcopyrite rich (copper sulphide) mineralization in backpack drill core from
the BMK Deposit (Backpack Drillhole NT07221607)
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Figure 3: Newly discovered sphalerite rich (zinc sulphide) mineralization in backpack drill core from the
BMK Deposit, note the backpack drill in the background (Backpack Drillhole NT07231612)
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Figure 4: Oblique cross-section view of the BMK Deposit showing the location of the surface
mineralization, closely matching the mineralized model.
Technical Summary
The 2025 BMK field program is designed to better understand the BMK Deposit by conducting mapping
over top of the Deposit then to take these learnings apply them over the rest of the property. The teams
utilize a “Beep Mat”, which is a lightweight, ground -based electromagnetic scanner that’s pulled across
the surface to detect shallow, electrically conductive (sulphide-rich) subcropping rock, emitting an audible
“beep” when it passes over a conductor. When a conductive area is located the team then uses shovels
to dig a small shallow hole to locate the source of the anomaly. If the anomaly is sourced from bedrock
then it is sampled using a backpack drill to collect a short (~1 metre, 41 mm diameter drill core). To date,
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the team has drilled 6 mineralized backpack drill cores across the top of the BMK Deposit with all assays
pending.
Next Steps
Murchison’s immediate priorities are to deploy the field crews for systematic prospecting of high-priority
anomalies and outcrops across its 859 km² mineral claims; to design a focused near-surface drill program
targeting shallow up -dip extensions in the under-tested upper portion of BMK . The team following the
conclusion of the program will integrate the 2025 mapping, geophysical data, and pending assay results
into the 3D geological model to refine targeting along strike and down -dip where the Deposit remains
open.
Table 2 – Collar Information for 2025 BMK Exploration Program backpack drillholes
Hole Easting UTM* Northing UTM* Elevation (m) Azimuth (°) Dip (°) Length (m)
BP-BM-25-001 581105 6221106 388 127 -62 2.52
NT07221607 581112 6221112 388 0 -90 1.57
NT07231612 581127 6221140 388 0 -90 2.12
NT08161605 580810 6220710 398 90 -75 0.83
NT08161739 580825 6220733 395 0 -90 0.3
NT08171508 580771 6220607 398 80 -65 1.42
*UTM Projected Coordinate System: NAD83 UTM Zone 13N
Corporate Update
The Company also announces that it has cancelled an aggregate of 523,250 incentive stock options
(“Options”) issued pursuant to its stock option plan on October 1st, 2025. The Options were granted to
certain officers, directors, employees and consultants of the Company, and had an exercise price of
between $1.60 -$2.70 and expired between October 11, 2026, and December 12, 2027. The Options
were voluntarily surrendered by the holders for no consideration
QA/QC and Cautionary Notes
Visual estimates of sulphide content and mineral species reported herein are preliminary and not a proxy
for assay results; grades, widths, and continuity can only be confirmed by independent laboratory
analyses. All samples have been submitted to SRC Geoanalytical Laboratories (Saskatoon, SK), and results
will be disclosed once available and validated through the Company’s QA/QC procedures.
1 High-grade copper-zinc VMS mineralization is based on visual estimates of chalcopyrite and sphalerite
mineralization, confirmed by XRF and are consistent with the mineralization observed in the BMK deposit.
Qualifying Statement
The foregoing scientific and technical disclosures on the BMK Project have been reviewed by John Shmyr,
P.Geo., VP Exploration, a registered member of the Professional Engineers and Geoscientists of
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Saskatchewan. Mr. Shmyr is a Qualified Person as defined by National Instrument 43 -101. The Qualified
Person has verified the data disclosed in this release, including sampling, analytical and test data
underlying the information contained in this release. Mr. Shmyr consents to the inclusion in the
announcement of the matters based on his information in the form and context in which it appears.
Some data disclosed in this News Release relating to sampling and drilling results is historical in nature.
Neither the Company nor a qualified person has yet verified this data and therefore investors should not
place undue reliance on such data. In some cases, the data may be unverifiable due to lack of drill core.
Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily
indicative of mineralization hosted on the Company's properties.
About the BMK Project
The Brabant -McKenzie Project is located 175 kilometres northeast of La Ronge, Saskatchewan and
approximately three kilometres from the community of Brabant Lake. The area is accessed year-round via
provincial Highway 102 and is serviced by grid power. The project hosts the Brabant -McKenzie VMS
Deposit, and the mineral claims total 859 square kilometres, that cover approximately 37 kilometres of
strike length o f the favourable BMK trend. The project contains multiple known mineralized showings
such as the Main Lake and Betty Showings and with many identified geophysical conductors that have yet
to be drill tested.
About Murchison Minerals Ltd. (TSXV: MUR, OTC: MURMF)
Murchison is a Canadian‐based exploration Company focused on the exploration and development of the
100% - owned Brabant Lake zinc‐copper‐silver project in north‐central Saskatchewan and on nickel -
copper-cobalt exploration at the 100% - owned HPM Project in Quebec.
Additional information about Murchison and its exploration projects can be found on the Company’s
website at www.murchisonminerals.ca . For further information, please contact:
Troy Boisjoli, President and CEO,
Erik H Martin, CFO, or
Justin LaFosse, Director Corporate Development
Tel: (416) 350‐3776
Forward‐Looking Information
The content and grades of any mineral deposits at the Company’s properties are conceptual in nature. There has been insuffic ient exploration to define a mineral
resource on the property and it is uncertain if further exploration will result in any target being delineated as a mineral resource.
Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. This
forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the
impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. FLI herein includes, bu t is not limited to: future drill results;
stakeholder engagement and relationships; parameters and methods used with respect to the assay results; the prospects, if any, of the deposits; future prospects at
the deposits; and the significance of exploration activities and results. FLI is designed to help you u nderstand management’s current views of its near - and longer-
term prospects, and it may not be appropriate for other purposes. FLI by their nature are based on assumptions and involve kn own and unknown risks, uncertainties
and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performanc e
or achievements expressed or implied by such FLI. Although the FLI contained in this press release is based upon what managem ent believes, or believed at the time,